The chart also shows that you can balance the budget in just four years if spending is allowed to grow “just” 2 percent annually.

And if you for some reason think that the burden of government spending should rise faster than inflation, then we can balance the budget in seven years by restraining spending so that it grows 3 percent each year.

Here’s the video I keep recycling that explains why it’s important to restrain the growth of spending and also shows that when you address the disease of spending, you easily deal with the symptom of deficits.

8 Responses

I am looking forward to learning more about your testimony tomorrow. Will you please post a video of it or a transcript of your testimony, if that is possible. In other words, I want to understand exactly why these cuts will have the desired effect. And then act to spread the word and help to bring them about.

It is not an overstatement for me to say that my husband and I, small business owners, are very afraid of the economic and fiscal future of our country. And I want to have impact on our country’s economic policies, starting with a framework of commonsense. Thank you for your work and blog! Liz

I think that if I ask my boss for a 10% raise and he tells me that the most he can give me is 3%, I should be able to deduct the 7% difference as a loss on my income taxes. If they calculate it that way when spending my tax dollars, I think they should calculate it that way when collecting my tax dollars.

[…] we’ve made some progress in the last two years thanks to genuine fiscal restraint, and we can balance the budget in a very short period of time if lawmakers impose a very modest bit of spending discipline in the […]